NC H1082

Requires seven state departments and agencies to discontinue using the economic development tier system (Tier 1, 2, 3 designations) by July 1, 2017, and instead develop independent criteria aligned with each program's objectives.

Replaces the tier designation system with an "economic distress index" based on average scores of unemployment rates, employment-to-population ratios, median household income, average wage, and educational attainment, ranked from lowest to highest scores.

Mandates each affected entity report its replacement criteria to the Fiscal Research Division and appropriate legislative oversight committees by October 1, 2016.

Creates the North Carolina Commission on Economic Development for Distressed Communities to study and recommend a comprehensive state strategy for identifying and assisting economically distressed communities, with a final report due March 1, 2018.

Appropriates $200,000 for fiscal years 2016-2017 and 2017-2018 to fund the commission's operations.